World launches World ID for banking and finance to verify real humans behind transactions

World, the identity project co-founded by Sam Altman, has launched World ID for banking and finance. The suite uses three cryptographic proofs—Proof of Human, Proof of Presence, and Proof of Attributes—to let financial institutions verify that real people are behind transactions, trades, and customer requests. This comes as Deloitte forecasts AI-enabled fraud losses in the U.S. could reach $40 billion by 2027. World's iris-scanning Orbs have faced regulatory action in several countries over biometric data concerns, and the company cites a case where an Arup employee wired $25.6 million after a video call with deepfake participants.